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Ascendant Copper affirms government support for its Junin copper/molybdenum project in Ecuador
Ascendant Copper affirms government support for its Junin copper/molybdenum project in Ecuador.
About this update from Vital Energy Inc.
[{"type":"text","content":"\n\n\n\nTSX symbols: Common Shares ACX\n\n\nBerlin-Bremen Stock Exchange symbol: A0HMLE\n\n\nFrankfurt Freiverkehr (WKN A0HMLE ) A5C\n\n\nDENVER, Sept. 25 /CNW/ - Ascendant Copper Corporation ("Ascendant") or\n("the Company") (TSX:ACX) confirms that today the Minister of Mines and\nPetroleum of Ecuador, Mr. Galo Chiriboga, held a press conference in Quito in\nwhich he addressed the general mining situation in Ecuador and made specific\nreference to Ascendant's Junin mining concessions located in northern Ecuador.\nThe Company has since spoken directly with the Minister's advisors to ask for\nclarification of his remarks and is confident that the Minister continues to\nsupport a productive solution for the advancement of the Junin project.\n\n\nMr. Chiriboga repeated an earlier statement, reported by Ascendant in\nDecember 2006, that the Company should not conduct mining-related activities\non Junin until such time as an Environmental Impact Assessment ("EIA") study\nfor the conducting of drilling is completed and approved by the government.\n\n\nTo facilitate final preparation of the EIA, the Company signed an\nagreement with the government in March 2007 to provide Ascendant free access\nto the Junin concessions so that certain on-ground studies, for the collection\nof baseline studies to support proposed exploration, may be conducted. Through\nsubsequent meetings and communications with the Ministry of Mines and\nPetroleum, the specifics of the amount and type of work that the Company can\nperform in the area until such time as the EIA is approved were defined. A\ncommission of the Ministry of Mines and Petroleum has recently been to the\nJunin concession area and confirmed that the Company is in compliance with\nthese agreements.\n\n\nIncluded in Minister Chiriboga's comments was the implicit invitation for\nthe Company to continue negotiations with the local communities and\nauthorities to advance the Junin project. Ascendant has always welcomed such\ndiscussion and believes that the existing positive attitude of the communities\nin the direct area of influence of the Junin project and the awakening\ninterest in mining in Ecuador have created a positive environment in which to\npromote sustainable development for the Intag valley through the advancement\nof rational mineral exploration and mining...